November 2024
06Nov

First UK pension scheme dives into Bitcoin, but don’t expect a stampede

The first UK pension fund has invested in Bitcoin according to the pension specialists Cartwright with the scheme reportedly allocating 3% of its assets to the cryptocurrency. Laith Khalaf, head of investment analysis at AJ Bell, comments: “It was only a matter of time before a UK pension scheme bought into Bitcoin, but this isn’t likely to spark a stampede into the asset class. Bitcoin is notoriously volatile, and pension scheme trustees are just as notoriously risk averse. Why wouldn’t you be when...

November 6, 2024
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July 2023
27Jul

Pension funds, other institutional investors and wealth managers plan to boost crypto investments

Nearly three out of four (74%) institutional investors and wealth managers questioned say their organisation will increase its level of investment in the sector in the year ahead. Nearly one in five (18%) will dramatically increase investment levels. The study with institutional investors and wealth managers in the US, UK, Germany, Switzerland, Singapore, Brazil and the United Arab Emirates who collectively manage around $3.5 trillion in assets, found growing confidence in the sector in the short and longer term. Nearly nine...

July 27, 2023
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April 2023
24Apr

Canada’s Biggest Pension Fund No Longer Bullish On Crypto After $95 Million FTX Wipeout

According to the Financial Times, Canada’s largest single-profession pension plan has learned its lesson after investing in crypto exchange FTX and will not be making any hasty decisions regarding future cryptocurrency investments. After losing $95 million in a now-defunct crypto exchange, the Ontario Teachers’ Pension Plan is no longer bullish on cryptocurrency investments. Several prominent funds invested in FTX between 2021 and 2022, just before the exchange’s eventual demise. Pension Plan No Longer Bullish On Crypto According to chief executive Jo Taylor,...

April 24, 2023
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March 2023
29Mar

Canada to Ask Pension Funds to Disclose Crypto Exposure

Canada's national government said federally regulated pension funds in the country will need to disclose their crypto assets exposure to the Office of the Superintendent of Financial Institutions (OSFI), as Ottawa tightens its regulatory oversight on the volatile industry. "To help protect Canadians’ retirements, Budget 2023 announces that the government will require federally regulated pension funds to disclose their crypto-asset exposures to OSFI," the government said in the new 2023 budget plan. The federal government will also work with provinces...

March 29, 2023
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09Mar

Does your public pension fund hold risky crypto-related investments? It can take a fight to find out.

In wake of FTX collapse, many questions, fewer answers about public plans' private holdings and who is benefiting from them. Crypto exposure is 'a canary in a coal mine.' Robin Rayfield had three minutes to speak. That wasn't much time for the 66-year-old Delta, Ohio, retired educator to raise his long list of concerns about the defined-benefit pension plan he relies on for his retirement income. It was December 2022, about a month after the collapse of cryptocurrency exchange FTX, and...

March 9, 2023
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February 2023
15Feb

US. SEC Proposes Rule Making It Harder For Crypto Firms To Work With Hedge, Pension Funds

The U.S. Securities and Exchange Commission (SEC) is set to propose rule changes that would make it harder for crypto firms to be designated as "qualified custodians," Bloomberg reported. The new rules would allow crypto firms to hold client assets for money managers. While the proposed changes have not yet been released, they could make it more difficult for institutional funds that have invested in cryptocurrency to comply with regulatory requirements for holding client assets. These funds may need to move their...

February 15, 2023
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August 2022
24Aug

Should Pension Funds ‘Invest’ in Crypto?

By John Rekenthaler My headline poses what seems to be a rhetorical query. Should pension funds risk other people’s money by buying volatile, poorly regulated assets? Obviously not. We therefore know how this column will proceed. Having erected this straw man, the author will triumphantly torch it in a blaze of self-righteousness. Such was my initial plan, after reading about pension funds with cryptocurrency-related losses. Houston Firefighters Relief and Retirement Fund invested $25 million in Bitcoin and Ethereum. The State of...

August 24, 2022
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19Aug

Canadian pension fund CDPQ explores legal options over failed crypto firm

Canada's second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) is exploring legal options over bankrupt crypto lending firm Celsius and will no longer invest in crypto firms, it said on Wednesday. CDPQ's statement came as the fund recovers from its failed investment in New Jersey-based Celsius, which filed for bankruptcy in July less than a year after it received an investment of $150 million from the fund. "We will preserve our rights and explore legal options," CDPQ Chief...

August 19, 2022
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May 2022
10May

UK. FCA needs more crypto experience, expert warns

The FCA needs more experience with crypto in order to understand the asset class fully, an expert has warned. Mark Aruliah, senior policy adviser at blockchain analysis firm Elliptic, who spent a number of years as a technical specialist at the FCA, said he doesn’t see any strong advantages in being in the UK as a crypto firm. “I’m not saying the UK regulator is in a positive or negative position, I think the jury is out for me,” he said. Speaking...

May 10, 2022
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November 2021
01Nov

South Africa Pension Funds To Exclude Non-CBDC Crypto Assets

South Africa Restricts Non-CBDC Crypto The South African government, in an effort to push its CBDCs, has introduced legislation that restricts non-CBDC crypto from being invested in pension funds. The new regulations are in sharp contrast to the older regulations that allowed portfolio managers to invest around 2.5% of funds into the category of “other assets,” which also included crypto assets. The new rules, however, exclude cryptocurrencies, citing a lack of protection. The Fairfax County Police Officers Retirement System in the...

November 1, 2021
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